1/ It’s not clear how long—3, 5, 10 years—but I believe end users & developers ultimately won’t care about the underlying protocols, & there will be a Google for #crypto that indexes, discovers & auto schedules & routes work to the right chain. If you’re working on this DM me...

2/ The implication would be that L1 protocols will over time commoditize and centralize (and value will continue to accrue to higher layers of the stack). Around what? Beliefs, values, people, communities, geographies, industries, domains, expertise, services, support, etc.

3/ Another is that value will accrue to higher layers of the stack, e.g., L2 solutions, dapps & vertical opportunities that deliver value to the end user. This will likely take a long time for more infrastructure to be built and mature, but it's not too early to think about this

Not enough importance, energy, or discipline has been put into #7, nor how it affects #1-#6. I'll explain how...

1. Team.

Most projects don't have experienced product or design co-founders, or they hire a head of product or design too late.

Like startups today (e.g., Airbnb, Slack, Pinterest), bring them in at the beginning to balance deep tech with user-centric design.

2. Vision.

@m2jr looks for founding teams with "earned secrets," which often come from deep experience in the field working (& seeing pain points) with customers & users at a granular level. Teams & visions should be configured this way. How do we know X should be decentralized?

1/ For years, people have been waiting and hoping for crypto's "Netscape" moment. The gateway to the web that brought the internet to the main stream.

IMHO, looking for the Netscape for the #crypto space is not a relevant or applicable analogy. Here's why...

2/ The way people imagine crypto's "Netscape moment" is very literal: as a window, gateway, or browser (just like Netscape) to easily acquire, save, and use crypto and access the decentralized web.

3/ But that sounds a lot like a wallet and exchange, which already exists. And yet, even with these onramps and "browsers" into crypto, we haven't had that "Netscape moment" people are hoping for in terms of mass adoption.

1/ *Centralized* apps building atop decentralized protocols may be the winning combination, each furthering the adoption of the other.

2/ As many have pointed out, “decentralize all the things” is a mistake. Decentralize the things that benefit from decentralization.

3/ Starting with centralized apps (think @coinbase@circlepay etc), if you’ve been paying attention, they are utilizing an increasing amount of decentralized protocols & open-source crypto infrastructure, to the benefit of their end users.

@Mainframe_HQ 2/ A simple illustration of how information is transferred over the internet. Mr. A. switches on his data, his ID assigns him an IP address using DHCP (Dynamic Host Configuration Protocol).

The IP address contains personal info. about Mr. A such as his geographical location.

1/ Imagine investing in internet stocks and never experiencing the products that the companies create.

2/ While I wasn't investing in the 90s, I imagine many investors were minimally familiar w/ the technology behind the companies they were investing in... kind of like many retail #crypto investors today.

3/ From the birth of the Web in the early 90s through to now, we've seen increasing alignment between what the markets valued early (at ridiculous multiples), and what consumers use today -- which is Web.